Vallarta Company recently reported notes payable and accrued payrolls and benefits as follows:

Assume that, during 2014, Vallarta Company borrowed $3.0 million on notes payable. Also assume that Vallarta paid $250 million for employee compensation and benefits during 2014.
Required
1. Compute Vallarta Company's payment of notes payable during 2014.
2. Compute Vallarta Company's employee compensation expense for 2014.

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December 31, 2014 2013 (in millions of dollars) Current liabilities (partial): Notes payable Accrued payrolls and benefits $ 26 270 $ 78 298